Latest Fundraising Updates in Private Equity: Top Fundraising Highlights
In the dynamic world of European investments, several significant fundraisings have taken place recently, attracting strong investor demand across various sectors. Here's a summary of some notable developments.
ASOF V, a Europe-focused fund targeting innovative middle-market software companies, has exceeded its target in fundraising, raising €1bn ($1.03bn) in total commitments. Northern Trust will deliver expanded asset servicing solutions for ASOF V, providing fund administration, depositary, banking, custody, and credit services from its Guernsey office.
Thoma Bravo, another prominent player, has closed a Europe-focused software investment fund at approximately €1.8bn ($2bn). This fund joins a growing list of successful European investments for the firm.
Brookfield Asset Management is targeting at least $7bn for its fourth infrastructure debt fund. The new fund will invest in both junior and senior infrastructure debt, continuing its established approach. Notably, Brookfield's previous infrastructure debt fund, which closed in November 2023 with more than $6bn in investor commitments, is now largely deployed.
Energy transition investments have also seen a surge in demand, with Blackstone Energy Transition Partners IV, a private equity fund focused on energy transition, completing fundraising at a $5.6bn hard cap. This fund is 33% larger than its predecessor, indicating strong investor demand for such investments. David Foley, Global Head of Blackstone Energy Transition Partners, emphasized the investment potential in this area.
The real estate sector has not been left behind. Neuberger Berman successfully closed its NB Real Estate Secondary Opportunities Fund II LP (RESOF II) at $1.05bn, surpassing its $800m target. This fund focuses on real estate secondaries, acquiring stakes in mature funds, providing liquidity to limited partners, and recapitalising existing assets.
Northern Trust's relationship with Alchemy Partners dates back to 1997. Since 2006, Northern Trust has supported Alchemy's Special Opportunities funds. The latest strengthening of their partnership was evident in the successful fundraising of ASOF V.
The investor base for these funds includes corporate and public pension funds, endowments, foundations, insurance companies, family offices, high-net-worth individuals from North America, Europe, and Asia, as well as employee and limited partner commitments.
These fundraisings underscore the ongoing interest in European investments across various sectors, with energy transition, software, and real estate standing out as particular areas of focus.
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